On Behalf Of Formation Metals Inc
Formation Metals (OTCQB: FOMTF)
It’s time to face the truth…
The world is back in “hard asset mode.” When confidence in policy, currencies, and stability gets shaky, capital doesn’t hide in hope. It hides in things the world can’t print.
That’s why gold has forced itself back to the front of the market.
Gold just pushed to record levels over $5,000/oz.
Gold is already up BIG to start 2026, after gaining 64% in 2025.
And the bullish calls are getting louder:
- Citi lifted its 0–3 month target to $5,000/oz.
- HSBC has said $5,000/oz in the first half of 2026 is feasible, with volatility likely.
This is the setup retail investors look for.
When gold breaks out like this, the biggest disconnect often shows up in the smaller names. Miners can lag at first, then re-rate fast once the market shifts from “gold trade” to “gold stock trade.”
That’s where Formation Metals comes in.
The stage is set for a high-torque rerating in a small-cap gold story tied to a large 877,000-ounce historical gold asset in one of the world’s most prolific gold belts.
Experts warned this cycle could return. Now it’s unfolding in real time.
And while gold has taken off, many miners are still playing catch-up, at least for now.
Investors have been flooding back into gold exposure, and the ETF tape proves it.
In 2025, physically backed gold ETFs pulled in a record ~$89B of inflows, with North America leading the charge.
But here’s where the real opportunity often shows up.
When gold runs, bullion and ETFs move first. Then the market starts hunting for leverage, especially in miners with real assets in proven jurisdictions. That’s where outsized re-ratings can happen, because even after gold’s historic surge, plenty of miners are still valued like the party never started.
With spot gold sitting near $4,594/oz as of Jan 13, 2026, that’s not a small gap. It’s a massive disconnect.
That disconnect is exactly what creates the “catch-up trade” window in gold equities.
After screening hundreds of names, Formation Metals (CSE: FOMO | OTCQB: FOMTF) stands out because it hits the core boxes investors look for when they want torque to the gold cycle:
- Assets in the Abitibi Gold Belt, one of the most prolific gold-producing regions on the planet
- A resource-scale opportunity with the kind of size that can matter to larger players
- A team with real capital markets and project-building experience, plus a blueprint that fits how Abitibi winners are built
If gold stays elevated and the equity market finally reprices miners closer to the new reality, the upside in select miners can be significant.
FOMO: A New Abitibi Drill Story — In The Middle Of A Historic Gold Run
When it comes to mining, it’s all about location.
And FOMO happens to have the world’s best address.
This gold miner is advancing its flagship ~4,400 ha N2 Gold Project located inside the legendary Abitibi Greenstone Belt.
The Abitibi gold belt is Canada’s primary source of gold, featuring 21 gold deposits containing over 3 million ounces of gold and a stunning 124 producing mines in its history.
Many have proven to be absolute juggernauts:
Dome Mine – 17M oz of gold produced
Hollinger Mine – 19.5M oz of gold produced
McIntyre Mine – 10.8M oz of gold produced
The Abitibi offers the “grand slam” of mining investing, which is superior mine economics, excellent infrastructure, and a world-class location – in this case Quebec, easily among the Top 10 best mining jurisdictions in the world.
And when you look at the map, it all makes sense.
The N2 project is strategically located along the gold-bearing Casa Berardi Deformation Zone, approximately 10 kilometres east of the former-producing Vezza gold deposit (261k Au oz in M&I resources), 30 km east of the Douay gold project (511 Koz Au indicated, 2.53 Moz inferred) and 120 kilometres east of the Casa Berardi gold mine, which produced over 86 koz of gold in 2024.
Prior to FOMO’s ownership, the N2 Project’s history already clearly showcased its phenomenal potential:
- 236 diamond drill holes for a huge 55,517 metres in total drilled length.
- Preliminary tests recovering 91.7% gold through flotation concentrate.
- A historic resource estimate of 18.2 Mt @ 1.48 g/t Au (~810,000 oz) for the A, Central, RJE and South Zones.
- A historic resource estimate of 243 Kt @ 7.82 g/t Au (~67,000 oz) for the RJ Zone.
And this could be only the tip of the iceberg.
That’s because:
- Geophysical work by Balmoral Resources from 2010 to 2018 (Mag, EM, HEM, VTEM, and IP) generated numerous targets that have not yet been investigated with diamond drilling.
- In 2007, expansion and exploration drill programs led to the discovery of a new zone of gold mineralization in the hanging wall to the RJ Zone with similarities to the mineralization at Vezza.
- The “RJ” Zone hosts intercepts as high as 51.26 g/t Au over 0.8 metres, 48.44 g/t Au over 0.5 metres, and 24.48 g/t Au over 0.9 metres. Almost 900 metres of strike has been drilled, with over 4.75 km of strike remaining to be tested.
- The “A’ zone, which comprises the largest historical resource, 522,900 oz @ 1.52 g/t Au, has had ~15 km drilled over 1.65 km of strike with 3.1+ km remaining to be tested and remains open at depth.
- 84% of drillholes intercepted auriferous intervals including up to 1.8 g/t over 32 m. 11 intercepted >30 g*m Au up to a 93 g*m Au in a 69.2 metre composite starting at 18 metres depth.
The math is simple and powerful:
Only 30% of the main A-Zone strike has been drilled, leaving miles of untapped potential and multiple millions of ounce based on simple expansion along strike.
A massive 12 kilometers of strike remain to be explored across five zones, and with historical drilling showing 70%+ hit rates for gold, the prospects for finding more gold look good.
And this is just the start.
This Is No Longer a “5,000 Metre Plan” It’s a Fully Funded 30,000 Metre Drill Program
Formation has already commenced drilling, and after closing financings, it expanded the plan to a 30,000 metre multi-phase drill campaign at N2.
Key updates:
- Drilling commenced Sept. 25, 2025 with an initial 10,000m Phase 1
- The company closed financings totaling ~$8.26M (first tranche) and ~$8.46M (second tranche)
- After that, Formation expanded the drill program to 30,000 metres
- Reported working capital moved into the ~C$13–14M range (with zero debt)
This matters because in early-stage mining, nothing separates “storytime” from “real momentum” like one thing:
A funded drill program big enough to actually change the resource narrative.
The Early Drill Signals: Visible Gold + Massive Near-Surface Mineralized Sections
Formation has already reported strong early visuals from the program:
Visible Gold
Visible gold was observed in early holes — including within a 30.8 metre interval in the A/RJ corridor.
Thickness That Supports an Open-Pit Conceptual Model
Formation also reported extremely wide mineralized intervals in multiple holes — including:
- 152.9m of target mineralization (starting near surface)
- 208.8m of target mineralization (starting near surface)
- Additional holes showing over 100m+ near-surface target mineralization (including 102.6m, 135.7m, 166.8m)
And importantly:
Formation has described these early results as supportive of a large-scale, low-strip open pit development concept while the program continues.
The final goal?
To define an NI 43-101 gold resource of up to 3 Moz of gold – an increase of almost 4x over the current resource.
And when a miner quadruples its gold resources during a raging gold bull market, investors will do one thing – scramble to invest in it.
The FOMO team has the blueprint, ambition, and know-how to expand the N2 Project’s resource base – the rocket fuel for FOMO stock.
Deepak Varshney – President, CEO & Director
A mining professional with 15+ years of experience at leading mining companies including Doubleview Gold and Usha Resources. Deepak has raised $40M+ in funding for mines in the last three years. He is currently CEO of Usha Resources, a TSX Venture-listed junior miner focused on the development of quality battery and precious metal resources. Deepak was previously CEO of Western Metallica Resources, where he led an $8M capital raise to develop copper resources in Peru and Spain.
Khalid Naeem, CPA, CGA
A Chartered Professional Accountant with a deep understanding of financial management, tax compliance, mergers & acquisitions, risk management, and financial reporting. Khalid is currently serving as CFO for publicly listed junior mining companies including Usha Resources, Xander Resources, and Totec Resources.
Navin Varshey, Director
A four-decade veteran of the mineral exploration and capital markets sectors, sporting leadership roles as President, CEO, and CFO across multiple TSX-listed issuers. Navin has raised $30M in the past decade for public and private ventures, and recently spearheaded the sale of a $26M asset by Usha Resources.
Now you have to join the dots.
Because this team of world-class mining executives has set FOMO on a course of major resource expansion and definition plan which will soon be reflected in its stock price…
The Acquisition Wildcard: How A Bargain Valuation & Perfect Location Could Put FOMO In The Crosshairs Of An M&A Frenzy
The reality is simple – acquisitions in the gold space are heating up fast.
Gold dominated the mining M&A space for the 2nd consecutive year in 2024, with an unprecedented 192.5 Moz of gold resources and reserves changing hands in deals worth $20B+.
M&A activity looks blistering hot, especially in the Abitibi region, with major deals in the last 12 months including:
- Agnico Eagle Mines’ friendly $204M acquisition of O3 Mining, whose primary asset the 100%-owned Marban Alliance property lies adjacent to Agnico Eagle’s Canadian Malartic complex.
- The CAD $2.16B acquisition by Goldfields of Osisko Mining, owner of the Abitibi’s Windfall Project.
- The acquisition by LaFleur Minerals, owner of the 187k oz gold resource Swanson Project, of the fully permitted Beacon Gold Property
- The sale by Yorbeau Resources of its flagship Rouyn gold property to a group of Australian investors for CAD $25M. The Rouyn property covers a 12-kilometre stretch of the Cadillac-Larder Lake Break, one of the major fault zones of the Abitibi region, with a combined NI 43-101-compliant gold resource of over 70,000 oz.
- The purchase by Molten Metals of the 5000-acre Senneterre West Gold Project, located in the Eastern Val d’Or district.
The Abitibi has produced over $12B in M&A activity since 2013 – and this could be just the beginning of an M&A tsunami.
Because there are very few miners that have the geographical imprint and geological edge that FOMO sports – and they’re all bigger players: In other words, FOMO is surrounded by the big boys.
And that’s not all.
Because within the gold mining space, FOMO showcases a gold resource valuation 60% lower than that of sector peers.
A re-rating by investors, a positive drilling results release, or a gold major going after FOMO as an appetising acquisition target – these catalysts would set up FOMO for spectacular price gains….
The Stars Are All Aligned for FOMO
The potential for FOMO is clear as it is explosive. A number of major catalysts are about to put FOMO fully onto investors’ radars:
World-Class Gold Assets – Located in the best mining jurisdictions of the world, sporting excellent grades, blessed with superior geological features, with excellent infrastructure links, and the potential for significant resource expansion.
A Bargain Valuation – Just counting its historic 877,000 ounce gold resource, FOMO is valued at a ridiculously low price of less than CAD $19/oz. This means that FOMO’s gold resources are priced at less 1% of the current gold price.
N2 Project Catalysts – FOMO is implementing its 30,000m diamond drilling campaign in highly prospective areas with very promising historical drilling results. The news releases could power FOMO stock as investors realise a new force in the Abitibi region is quickly emerging.
The M&A Windfall – FOMO rests among giants – who have an insatiable appetite for quality gold assets in areas adjacent to their properties. The list of companies in the Abitibi region is a veritable who’s who of major gold players, with a strong history of acquisitions, in particular of promising early-stage miners.
A Strong Financial Position: FOMO is well-capitalized to execute its vision, with zero debt and $13M in working capital. This considerable war chest will fund exploration activities and support corporate operations.
Aligned Management Interests: Unlike most early-stage mining companies, FOMO’s management is all-in on the company’s future prospects – with 67% of the company’s shares owned by directors and executives. This makes management’s interest one thing only: making the share price go up.
The catalysts are many, powerful, and already in play.
But as we write, the uncertain sentiment of the junior market is a window of opportunity for FOMO investors to get in at a bargain price.
And it looks like this window may be closing very soon…
Buying FOMO at a great price – while it’s still possible…
The simple fact is, we could easily be at the start of a major, multi-year, era-defining bull market in gold juniors..
And when these bull markets happen, the biggest price performers are always the same – small cap juniors with great mineral resources, effective teams, and rising investor recognition.
Right now, FOMO is trading at a market cap of only CAD $30M.
Investors are starting to take notice of the potential, with the price already up over 40% in 2025.
But +40% is NOTHING compared to what could be lying ahead…
Because when mining juniors move up big, they could keep on rising over months and even years.
And the massive opportunity often turn into something life changing.
Let’s face it, the junior market remains small.
The TSX Venture Index’s market cap is less than CAD $100B, compared to $1.9T for bitcoin and a staggering $47.5T for the S&P 500.
Investor sentiment can change on a whim, and when even a fraction of the trillions of dollars invested in global markets find their way to the gold juniors, FOMO can see a massive move.
With FOMO we are witnessing a ground-floor valuation for mineral assets that are strategic, high-quality, and rising in price – literally by the hour.
Its valuation, assets, and catalysts that make FOMO into a textbook case of a stock that makes major moves.
Investors need to decide whether they want exposure to one of the potentially most explosive junior mining opportunities of the 2020s.
If the answer is a resounding “yes” then the time to buy FOMO is now.
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